Keynesian Economics is on Life Support and I wish it would die

In less than two weeks on November 3rd, the Federal Reserve next policy committee will end. It is suspected, if Chairman Ben Bernanke is true to his word, the central bank will attempt to drive down interest rates even lower. This if true, since traditionally the Federal Reserve bank usually cuts short term interest rates to spur economic activity, will show their traditional advocacy of Keynesian approach to economic growth. Unfortunately this is also problematic if trying to avoid inflation is of any importance.

John Maynard Keynes is the father if what many refer to as Keynesian Economic Theory. Keynesian economics is a theory that promotes the view that total spending or aggregate demand is essential to dealing with improving economic outputs and inflation. Its premise is based on the... [via Raw Dawg Buffalo]